Vanadium oxides with various compositions have been reported as electrodes for potassium-ion batteries, but the poor conductivity is the main obstacle to fulfilling the energy storage requirements. In this study, we synthesize carbon-coated V₂O₃ hollow spheres (HS-V₂O₃@C) by a facile solvothermal reaction. The HS-V₂O₃@C electrode exhibits promising cycling stability and rate performances. It retains a high reversible capacity of 330 mA h g⁻¹ at 100 mA g⁻¹ after 500 cycles. Its capacity reaches 79 mA h g⁻¹ at a high current density of 5000 mA g⁻¹. The superior performances are mainly due to the homogeneous carbon coating layer that greatly improves the electronic conductivity and the hollow structure that buffers the volume change during cycling. By means of ex situ X-ray diffraction and cyclic voltammetry, the mechanism of potassium ion storage in this HS-V₂O₃@C electrode is determined as the combination of intercalation and pseudocapacitive effects.